The U.S. balance of trade has been in a large surplus since 2001
a. True
b. False
Indicate whether the statement is true or false
False
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If a firm fails to provide investors with at least a normal rate of return
A) it will not be able to remain in business in the short run. B) it will have a positive economic profit but a negative accounting profit. C) it will not be able to remain in business in the long run. D) it will shut down in the short run but will be able to remain in business in the long run.
Which of the following statements about the elasticity of demand for a monopolist is TRUE?
A) Since a monopolist produces a good with no close substitutes, the price elasticity of demand for the good is zero. B) A monopolist produces a good with demand that is perfectly inelastic because people can not do without the good. C) Since every good has some substitute, even if imperfect, the demand for a good produced by a monopolist will not have zero price elasticity. D) Since the demand curve of a monopolist is downward sloping, the demand for the good must be inelastic.
Stock prices rise when abnormal profit expectations rise
Indicate whether the statement is true or false
As gardeners tried to make their yards places for quiet retreat, sales of backyard fountains increased. What factor affecting demand does this illustrate?
a. income b. market size c. consumer expectation d. consumer taste